Topics and Guests for August 30

Power outages, massive flooding and millions in damage — Katrina delivered a devastating punch to the Gulf Coast. Team FOX is live with the latest reports from around the storm-battered region.

Then, hundreds are believed to be dead in Mississippi — 30 people killed in just one apartment complex. Eighty percent of New Orleans is under water — up to 20 feet in some places. And huge storm surges in Mobile, Alabama pushed an oil platform into a bridge, flooding the downtown area. We'll get reaction from Sen. Jeff Sessions, R-Ala.

And, oil production is down 25 percent after Hurricane Katrina's devastating hit shut down resources along the Gulf Coast. The government's oil supply is nearly 700 million barrels. Should President Bush tap into the U.S. oil reserves? We'll get insight from John Kingston, director of Oil for Platts.